5 Tips for Avoiding Taxes on Lottery Winnings

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If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an

That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

danger high voltage free slot Prizes that are given in a competition or contest are not taxable gambling or lottery winnings if no advantage or inequality in amount or value is offered or So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize In most states, the tax is taken